Hundreds of North Sea licences granted by Tories ‘produce only 36 days of gas’ | Oil and gas companies
Hundreds of licenses issued under the Conservatives for new oil and gas projects in the North Sea have so far produced just 36 days of gas, analysis shows.
Research Research by energy consultancy Voar and campaign group Uplift found the government handed out hundreds of new North Sea oil and gas licenses in seven licensing rounds between 2010 and 2024.
This has led to 20 new and re-licensed fields with the potential to produce enough gas to supply the UK for just six months over its lifetime. To date, they have produced the equivalent of 36 days of extra gas.
The findings cast doubt on claims by Reform UK and the Conservatives that new drilling licenses in the North Sea would help reduce energy bills and improve the UK’s energy security.
Tessa Khan, chief executive of Uplift, said right-wing politicians and the oil and gas industry were trying to mislead the public. “Some politicians are trying to sell us the dangerous fantasy of endless gas reserves, when the truth is – after 50 years of drilling – we have already burned most of it,” Khan said.
“One month’s worth of gas from the last government’s 14 years of licensing shows that pursuing this policy is sheer madness. There is not enough gas from now until May 1.”
The rise in energy prices caused by the US-Israeli war in Iran has intensified the debate over how to ensure the UK has reliable and affordable energy supplies.
Labor’s decision to ban new oil and gas licenses and instead focus on domestic renewable energy has been welcomed by many economists and climate experts. But he has come under repeated attack from Kemi Badenoch and Nigel Farage in recent weeks.
reform leader in the name He called on the Prime Minister to “open licenses and become self-sufficient in natural gas.”
Badenoch requested: “Drilling in the North Sea and expanding other sources of production… is the only way we can protect families from rising bills.”
But experts say the North Sea is a “mature basin” where production has declined by 75 percent since its peak. They say 90 percent of their reserves are exhausted.
The new licenses will have no impact on bills as prices are determined by international markets. Official data, new licenses minimal impact On Britain’s dependence on imported gas.
Instead, campaigners say a more effective way to achieve energy security for Britain would be to double down on renewable energy and implement a mass program of home improvements, from better insulation to installing heat pumps.
Khan said: “New drilling won’t take a penny off our bills, something even the industry accepts. The only way to protect ourselves from oil shocks is to double down on renewables and upgrade homes so we can wean ourselves off fossil fuels. This is common sense in today’s world.”
Jess Ralston, head of energy at the Energy and Climate Intelligence Unit, said issuing more licenses would be a “sticky plaster” that would not help British consumers.
“The truth is that we Approximately 90% of oil and gas is discharged dry “Reducing fossil fuel demand through electric vehicles, heat pumps and renewables remains the most reliable long-term solution to prevent the UK from becoming so vulnerable to energy crises, often caused by war,” Ralston said.
The Conservatives have been contacted for comment.
